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Polevoi Damages Announced: Jack N. Polevoi, a...

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From Times Staff and Wire Reports

Polevoi Damages Announced: Jack N. Polevoi, a former officer of ZZZZ Best Co., has been ordered to pay nearly $1 million in damages and penalties in connection with the short selling of 54,200 shares of the carpet-cleaning company’s stock. The Los Angeles office of the Securities and Exchange Commission ordered Polevoi to disgorge $224,860 in trading profits plus interest and to pay a triple penalty of $674,582 for insider trading. Polevoi pleaded guilty two years ago to a four-count indictment that included conspiracy to commit securities law violations.

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